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RTB data indicates that rents are continuing to spiral and rent freeze is needed - Eoin Ó Broin TD

28 March, 2019 - by Eoin Ó Broin TD

Sinn Féin Housing spokesperson Eoin Ó Broin TD has commented on the publication of the RTB rent index for quarter 4 of 2018 stating that “rent pressure zone legislation is not working and we need to urgently introduce a rent freeze”.

The average annual rent increase across the State was 7%, and up 8% in Dublin despite the 4% rent pressure zone cap.

Deputy Ó Broin said: 

“The latest figures published by the RTB show that the average rent across the country is now €1,134, an annual increase of 7.%.

“In Dublin, the standardised average rent is €1,650, up from €1,530 in the same period in 2017. Dublin renters now paying €1,440 more a year.

“Outside of Dublin there has been double digit rent increases in Carlow, Cavan, Laois, Longford, Monaghan, Roscommon, Tipperary and Westmeath.

“The two-tier rental market is still evident with the change in average rents greater for new tenancies than sitting tenancies. The average rent for new tenancies at €1,237 per month compared to €987 for sitting tenancy renewals.

“The rent pressure zone legislation is not fit for purpose and state-wide rent freeze must be introduced before rental costs become even more unaffordable.

“Sinn Féin would like to see three-year rent freeze on existing tenancies. New tenancies would be capped at the RTB’s standardised rent index by county or LEA.

“This would be coupled with a temporary refundable rent relief for all renters to help ease affordability concerns. This would give one month’s rent back to tenants annually.

“This Fine Gael led government is unfortunately more concerned with ensuring REITs and banks get tax breaks as opposed to struggling renters."

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